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A mortgage of $145,000 is amortized over 25 years by monthly payments of $1,297. What is the nominal annual rate of interest compounded semi-annually? I
A mortgage of $145,000 is amortized over 25 years by monthly payments of $1,297. What is the nominal annual rate of interest compounded semi-annually? I have not been able to calculate the nominal rate of interest. When answering please make sure you show all work and provide the formula to calculate the nominal rate of interest. Thanks
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College Accounting Chapters 1-27
Authors: James A. Heintz, Robert W. Parry
23rd edition
1337794759, 978-1337794756
